While the number one in luxury LVMH saw its sales drop by 2% in the first quarter, especially in the United States, the customs duties imposed by Donald Trump already seem to have a significant impact. Bernard Arnault has put pressure on Europe. © Chesnot/Getty Images – Bernard Arnault (LVMH) scratches and put pressure on Europe. Save safeguarded Receiving Bernard Arnault alerts a loss of more than twelve billion dollars in a few hours, disappointing results in the first quarter … Bernard Arnault and LVMH have looked gray in recent days. Indeed, the world number one luxury marked the step in the first quarter, with sales down 2% to 20.3 billion euros, especially in the United States. As a result, the luxury group suffers on the stock market and Tuesday, April 15, the giant’s price has unscrewed, closing down 7.82%. The fault in part of the customs rights imposed by Donald Trump on the rest of the world and Europe, while LVMH achieves a quarter of its turnover in the United States. Faced with this observation, Bernard Arnault warned before the shareholders, reports BFMTV. The billionaire threatened to “increase (his) American productions” if customs duties between Europe and the United States were to be so high in the coming weeks. Avoid customs duties, “suggested the boss. During this general assembly of group shareholders, Bernard Arnault also launched: “It should not be said that it is the fault of companies. It will be Brussels’s fault if it were to happen. ” Read also: LVMH: “The worst is never certain” but “it does not depend on us” the EU is “not directed by political power”, castigates Bernard Arnaultane Pressure on the old continent so that it quickly finds an agreement with Washington on these customs rights, especially since at the same time, Bernard Arnault has “the impression for the moment that our British friends are more concrete in the progress.” But the diatribe of the billionaire against Europe did not stop there. Bernard Arnault castigated a European Union which is “not led by a political power (…) but by a bureaucratic power which spends its time editing regulations”. According to Bernard Arnault, this management does not make “not easy” the creation of a “free trade area” between the United States and the EU which he nevertheless calls for his wishes. To read also: LVMH: why the luxury group always wants to green its activity, despite the decline in its sales as our colleagues remind you, LVMH has eighteen workshops in France and three in the United States (not to mention those of the American Tiffany & CO bought in 2021). If Europe – and in particular France – as well as the United States does not agree quickly, “there will be dramatic social consequences”, suggested the billionaire, citing more precisely the viticulture sector. Receive our latest news each morning, the information to be remembered on the financial markets. (tagstotranslate) Bernard Arnault
